Rappi launches a credit card to compete with NuBank

Photo: REUTERS / Luisa Gonzalez

This was announced by the founder of the unicorn start-up, Simón Borrero, that In conjunction with Davivienda, it will enable the registration of users to access a credit card that will be available from December 2020.

In this sense, Rappi responds directly to the new bank NuBank, which arrived in the country at the beginning of October, and which in just 24 hours received requests from 20,000 people to access its card. Here begins a new credit card race.

The Rappi, Davivienda and Visa card will be available to Rappipay users and will allow them to manage all their information from the Rappi app.

Another benefit offered by this card, like the Nubank one, is that they will not have a lifetime driving fee; They will also be able to receive money back for purchases made and a referral program.

Finally, they will also be able to count on a personal banker who will be in charge of giving personalized attention to each of the users.

According to Rappi, the physical card does not have any printed identification numbers or security code, and the data is only visible in the application for the card owner, through facial recognition, fingerprint or security code.

In addition, for security, being within the platform there is an immediate record of purchases, instant notifications of where, when and why the card was used, which allows traceability of movements in real time. It is also possible to freeze and unfreeze the card from the app in case of loss, or block it in case of theft.

As in other similar products, the application for the card will be made directly from the app, without the need for paperwork or signatures; everything will be 100% online. Delivery is immediate, after approval so it can be used on any digital platform.

Since its alliance with Davivienda and the launch of its debit card, one out of every three Rappi users in Colombia uses RappiPay services, with more than one million active users.

In recent days Rappi reported that it formalized a strategic alliance with Banorte, the second largest financial group in Mexico, in order to consolidate a new company that offers digital financial services, whose focus will be the users of the Colombian platform in Mexico.

Through this agreement, Grupo Financiero Banorte undertook to make up to US $ 175 million (4,000 million Mexican pesos) available to the new company within 18 months., since the option to deliver 3,000 million Mexican pesos is subject to certain performance metrics having been achieved within the established deadlines.

Leave a Comment